Commercial Mortgages for UK Businesses
March 8, 2010 by Dunkin
A commercial mortgage is similar to a residential mortgage in that funds can be borrowed over a long period of time, usually a maximum of 30 years, secured by a first charge on the property being bought.
In taking first charge, the lender is first in the queue to recover any debt if the property ever needs to be sold. This could happen because the mortgagee wishes to move on and sells, or perhaps has defaulted on the repayments causing the lender to foreclose.
If a first charge business mortgage already exists, it is common for different lenders to advance funds secured by way of a second charge which puts that lender as second in the ‘security queue’.
Unlike residential mortgages, almost all commercial mortgages are variable rate loans which vary in line with the Base Rate set by the Bank of England’s Monetary Policy Committee. So, if a lender offers terms which include an interest rate of say ’2% over base’ then a base rate of 4.5% would result in an interest rate of 6.5% being applied to the loan.
Some lenders will link their interest rates to LIBOR, which is the London Inter Bank Offered Rate. LIBOR is published daily in the Financial Times and can be found on a number of other financial websites.
Commercial Mortgages can be secured against all kinds of freehold or long leasehold properties, such as shops, pubs, care homes, restaurants, offices, industrial factory units and more. Applying for a commercial mortgage is very much like that of a residential mortgage except that the maximum that can be borrowed is 60% of the assessed Market Value, although one or two lenders will advancelend up to 75% depending upon the proposal.
These percentages are known as the Loan-to-Value ratio, or LTV. A lower LTV means that the risk to the lender is reduced. The higher the LTV, the greater the risk to the lender and it is likely that a higher interest rate would be charged.
Lenders will not generally advance above 75% LTV to ensure that there would be enough security in the case of a forced sale, perhaps through auction when it is expected that property will sell at a discounted rate. When looking for a commercial mortgage it is advisable to shop around for the best deals and to use a specialist commercial finance broker who will possess the necessary specialist knowledge to advise you accordingly.
Латвийская блогосфера существенно отличается от блогосферы таких государств, как Великобритания, Германия и Россия, где традиционно доминирует яркая форма блога, а блогеры — известные специалисты, эксперты, авторитетные и узнаваемые люди. Лекторы факультета коммуникации Рижского университета Страдыня Анда Рожукалне и Рута Силиня провели исследование латвийской медийной блогосферы. С 10 февраля по 10 марта ими было проанализировано 118 блогов латышскоязычных медиа: LTV Panorāma – 4, diena.lv – 97 и db.lv – 17. В результате исследователи выяснили, что авторы латвийской блогосферы — это журналисты, политики и эксперты в различных областях, которые преимущество пишут о политике, реже — на экономические или культурные темы, и почти без внимания оставляют социальные проблемы, темы развлечений или какие-то другие. Сравнительно мало блогов ведут журналисты, в свою очередь, очень много политических блогов — 59% от общего числа. В то же время аудиовозможности блогов используются очень мало. Из…
LONDON (MarketWatch) — The Bank of England’s Monetary Policy Committee on Thursday left its key lending rate unchanged at a record low 0.5%. The central bank also announced no change to its 200 billion pound ($320 billion) asset purchase program. Both decisions were widely expected.
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You could probably get away with a 4 year education for these careers:
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also referred to as LIBOR, as the name implies it is the rate charged by banks to other financial institutions
MPC divided on inflation and eurozone crisis (at Financial Times): The Bank of England s monetary policy committee…
Oh iya ya hehe RT iye kan besok libor ga ada kuliah , haha
Mac OS X and Linux are no magic security bullet for Google:
The Financial Times reported last ni… http://bit.ly/coCIEb
when there is selling there is buying…translation: there will be losers today that become winners on the upturn…
bad market